How is bitcoin soaring? How much is bitcoin soaring? Many friends still don't know. Let's take a look with Xiaobian.
How is bitcoin soaring? How much is bitcoin soaring
On April 3, bitcoin pulled 20% in the Asian session, directly touching the $5000 mark (many trading venues have quoted more than $5000). However, there are different opinions on the reasons. However, one thing is certain. Because Americans are still sleeping during the period of the surge, this kind of pull is a Chinese pull.
From the perspective of price manipulation, if a news has a huge influence and needs to be exported to domestic sales, for example, the news is made in China (what ETF has to be approved, etc.), then it appears in overseas media, and then it is translated by domestic media and fermented in China, it will complete a perfect pull.
This time is no exception, but the time node is well chosen, and the information behind it is also worth reading.
As for the investment target like bitcoin, which is still in great controversy, the attitude of any government or the evaluation of authoritative and trusted institutions will bring huge fluctuations to the market.
How is bitcoin soaring? How much is bitcoin soaring
I think there are two main reasons for the sudden rise in the price of bitcoin. On the one hand, bitcoin continues to fluctuate at a low level. Against the background of the strengthening of the US dollar and the continuous rise of global risk assets such as the stock market, bitcoin still has not hit a new low. This shows that the holders of bitcoin market have been reluctant to sell, as long as there is a little news or demand stimulus On the other hand, the U.S. Congress has introduced two bills related to cryptocurrency to solve the problem of price manipulation that investors continue to worry about in this market, and to improve the competitive advantage of the United States in the emerging industry of cryptocurrency.
Strictly speaking, the above two factors contributed to the rebound. The first factor gave investors a certain safety margin, while the second factor stimulated investors' expectations and concentrated demand.
However, if the two proposals proposed by the US Congress alone are actually a very indirect positive factor, it is similar to the many proposals issued by Chinese deputies to the National People's Congress at the two sessions every year. In fact, there is still a long way to go for them to become legal provisions.
However, the important point is that the two bills are highly targeted, which leaves plenty of room for readers. We know that the United States is a country that attaches great importance to financial competitiveness and investor protection. Therefore, the bill on how to prevent bitcoin price manipulation indicates that if this problem is solved, the time for the general public to directly participate in bitcoin related derivatives will not be far away. For example, bitcoin ETF will not be rejected because regulators are worried about price manipulation.
How is bitcoin soaring? How much is bitcoin soaring
The other is that the United States has begun to pay attention to the emerging industry opportunities brought by bitcoin, which also shows that many people in the United States are promoting the construction of this field and expanding the market survival space.
Based on this, some sensitive long-term funds may be involved in this market, especially bitcoin, the leader of digital currency, which will be supported by short-term buying. However, investors should not expect too much, because bitcoin is still in the adjustment and repair period after falling from US $20000. A one-time rise means that it will be thrown away soon After all, there are many people who have been locked up. Moreover, many countries have not taken similar measures and are still under strict supervision.
In fact, from a longer-term perspective, what we need to pay more attention to is the rhythm, method and scale of solving problems in the U.S. market, as well as the logic of balancing, protecting and developing investors and emerging industries.
From the market point of view, the 20% fluctuation itself is a withered line. If we stand firm, the security boundary of the market will be higher. If we don't stand firm, the market confidence will still encounter collapse, but on the whole, it adds more expectations to the market.